Renaissance Technologies LLC Sells 1,691,968 Shares of Banco Bradesco SA (NYSE:BBD)

Renaissance Technologies LLC reduced its position in Banco Bradesco SA (NYSE:BBD) by 26.9% during the second quarter, HoldingsChannel.com reports. The firm owned 4,598,092 shares of the bank’s stock after selling 1,691,968 shares during the period. Renaissance Technologies LLC’s holdings in Banco Bradesco were worth $45,153,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BBD. Parallel Advisors LLC boosted its holdings in Banco Bradesco by 293.1% in the first quarter. Parallel Advisors LLC now owns 3,286 shares of the bank’s stock worth $36,000 after acquiring an additional 2,450 shares in the last quarter. Stevens Capital Management LP purchased a new position in Banco Bradesco in the first quarter worth approximately $851,000. Compass Group LLC acquired a new stake in Banco Bradesco during the first quarter worth $606,000. Laurion Capital Management LP acquired a new stake in Banco Bradesco during the first quarter worth $1,925,000. Finally, NS Partners Ltd raised its position in Banco Bradesco by 12.4% in the first quarter. NS Partners Ltd now owns 653,468 shares of the bank’s stock valued at $7,129,000 after purchasing an additional 72,100 shares during the period. 2.46% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on BBD shares. ValuEngine lowered Banco Bradesco from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 5th. Zacks Investment Research lowered shares of Banco Bradesco from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Morgan Stanley upgraded shares of Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Finally, Goldman Sachs Group began coverage on shares of Banco Bradesco in a research report on Monday, June 10th. They issued a “sell” rating and a $9.58 target price on the stock. Five equities research analysts have rated the stock with a sell rating and one has given a buy rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $10.29.

BBD traded up $0.03 during trading hours on Wednesday, hitting $8.39. 427,239 shares of the company’s stock were exchanged, compared to its average volume of 13,988,848. Banco Bradesco SA has a 12-month low of $5.41 and a 12-month high of $10.55. The firm has a 50 day moving average of $8.50 and a 200 day moving average of $9.48. The firm has a market cap of $81.64 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.47 and a beta of 0.90. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Friday, July 26th. The bank reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $6.38 billion. Banco Bradesco had a net margin of 16.16% and a return on equity of 19.01%. As a group, research analysts expect that Banco Bradesco SA will post 0.81 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.004 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Banco Bradesco’s dividend payout ratio is currently 5.63%.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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